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Small Business Quickfinder – Tab “C”
Read Tab “C”
HOMEWORK: (To be completed after lecture June 23)
Go to IRS.gov and find the IRS Form 1120:
Page 1
Page 2 does not apply
Page 3 Schedule J and K
Page 4 Schedule K
Page 5 Schedule L, M-1, and M-2
Form 1125A
Form 1125E
and any supporting statements or schedules
Using the attached trial balances to complete Form 1120 for YOU NAME IT.
Homework due on July 7. Please bring a paper copy to class. You should attach to the link. This will time and date stamp your assignment This homework assignment is worth 15 points.
(compare 1hq0-A to the original one)
Year: 2013 You name it – C Corporation SAMPLE3
Trial Balance Page 1
03/25/14 11:08 PM
Account 1 Account Description Jan 1, 2013
101 A Cash in bank 38,646.00
120 A Accounts receivable 167,320.00
130 A Inventory 48,000.00
140 A Prepaid insurance 2,000.00
151 A Furniture and fixtures 23,000.00
153 A Automobiles 28,000.00
161 L Accumulated depreciation – fum & fixtures (12,800.00)
163 L Accumulated depreciation – automobiles (7,200.00)
180 A Rent deposit 3,000.00
201 L Accounts payable (50,000.00)
205 L Notes payable short term (15,400.00)
212 L FICA W/H payable (1,800.00)
213 L FIT W/H payable (2,100.00)
214 L State W/H payable (1,700.00)
251 L Notes payable long term (2l,930.00)
301 L Common stock (50,000.00)
380 L Retained earnings (147,036.00)
Total 0.00
Period Profit/(Loss) 0.00
EIN 12-3654987
You Name It – C Corporation
DBA – Your name here
11333 Big Bend Road
St. Louis MO 63122
Date incorporated 01-01-01
Bookstore
Business code to be determined by preparer
Balance sheet as of 01-01-13
Salaries consist of the following
Officer – Student name $30,000 – 100% stock ownership and 100% of the time
Other salaries $10,000